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Some companies announce pro forma earnings and then disclose real earnings measured under US Generally Accepted Accounting Principles (GAAP) in their quarterly financial reports.
Question : The several evaluative criteria for evaluating revenue measure or system are: ? Yield ? Political expediency ? Ease of administration ? Consistency
Determine the symbols of Net Sales for the Period - Cost of Goods Sold = Gross Profit - Operating Expenses + Other Income - Other Expenses =
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
Q. Explain Accounts payable? Accounts payable are amounts owed to suppliers meant for goods or services purchased on credit. Accounts payable are usually due in 30 or 60 days a
When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?
what is implication wrongly application of accounting concept#
Fixed Assets An additional categorization other than current or long-term is as well used for property. A "fixed asset" is an asset which is planned to be of a lasting nature a
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
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